Scope of this Report -This brief covers the Italian market but gives crucial background information about the wider European market. -It covers the market share held by financial advisers in the mutual fund and life and pensions markets and forecasts forwards -It includes analysis of the market for financial advice, including types of advisers, key products and leading associations -It contains survey information drawn from interviews with more than 20 key financial advice companies in Italy
Highlights and analysis According to FECIF Italy has around 35,000 full time professional financial advisers employed outside the banking sector, the third largest number in Europe behind Germany and the UK. There are also a substantial number of people who offer some financial distribution services while this is not their main profession.
The SIM networks are an important part of the retail mutual fund distribution landscape in Italy. This channel has held approximately 10% of mutual funds distribution between 1998 and 2003, but dropped from a substantial 22% in 1996.
Developing public demand for independent advice, particularly amongst the most wealthy will drive some growth in this area and draw some business away from the SIMs, which currently dominate the market for financial advice in Italy but are not fully independent.
Reasons to Purchase -Understand the attitudes and opinions of key players in this crucial distribution channel in order to market to it more successfully going forward. -Size the proportion of the life and pensions and mutual fund products currently being sold through this channel. -Assess the importance of this channel for distribution strategies going forward
